Is Norwich Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Norwich Township has remained a Seller's Market.
Key Takeaway
Norwich Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwich Township, OH
How much do homes in Norwich Township, OH cost?
Median Sold Price
$400,400
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Norwich Township have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Norwich Township was $400,400 in May 2024, up 4.3% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | - | N/A |
| 2 Bedrooms | $270.5K | $300K | +10.9% |
| 3 Bedrooms | $324.9K | $338K | +4.0% |
| 4 Bedrooms | $450K | $470K | +4.4% |
| 5+ Bedrooms | $560K | $585.5K | +4.6% |
Summary: Norwich Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Washington Township | $345K | $490.1K | +42.1% |
| Columbus | $262.2K | $279.7K | +6.7% |
| Norwich Township | $384K | $400.4K | +4.3% |
| Hilliard | $353.2K | $365K | +3.4% |
| Upper Arlington | $547K | $564.3K | +3.2% |
Housing Supply in Norwich Township, OH
How many homes are available in Norwich Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 91 | 114 | +25.3% |
Summary: The Norwich Township real estate market had 114 homes for sale in May 2024, a 25.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 16 | +14.3% |
| 3 Bedrooms | 42 | 55 | +31.0% |
| 4 Bedrooms | 33 | 40 | +21.2% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Norwich Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 42 | +44.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norwich Township, you could pay more than the asking price. 59.5% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in Norwich Township in May 2024, up by 44.8% month-over-month. Of the 42 sold homes, 24% were sold under asking, 17% were sold at asking, and 60% were sold over asking.
Days on Market for Norwich Township, OH
How long does it take to sell a home in Norwich Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 18 Days | +213.1% |
Summary: Homes in Norwich Township had an average of 18 days on market in May 2024, up by 213.1% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norwich Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 42 homes were sold in Norwich Township; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.